Xerox pulls out of Fuji $6.1 billion deal. Jeff Jacobson CEO gone again with 5 directors. In another about face the two largest share holders Carl Icahn and Darwin Deason have effectively taken over Xerox. They have appointed 5 new directors and has appoint John Visentin as CEO. Xerox is now expected to go up for sale or get sold off in pieces.

Fujifilm looking at law suite

Icahan and Deason believes that there are investors waiting in the wings to buy Xerox at a higher price . What has not been calculated is the separation costs of Jeff Jacobson, possible legal cost with Fuji and long reaction among Xerox customers. Fujifilm has already disputed Xerox's right to pull out of it's deal. Also Fujifilm makes almost all of Xerox's office copiers. From the original Xerox Fujifilm partnership there is the question of paten ownership. Some have question if any of Xerox's major competitors tried to buy it if they could get anti-trust approval. The dust is going to take a while to settle.